Chilean Stocks: Santander Chile, Corpbanca, Lan Airlines, Paz

The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of the close in Santiago.

The Ipsa (IPSA) index fell 1 percent to 4,100.12. The MSCI Chile (MXCL) index dropped 1.2 percent to 2,237.07.

Banco Santander Chile (BSAN) fell 0.6 percent to 32.3 pesos. Spain’s Banco Santander SA will end tomorrow the book building process for the sale of a 7.8 percent stake in its Chilean unit. Final pricing will be announced Dec. 7.

Corpbanca (CORPBANC) retreated 1.9 percent to 6.74 pesos. The local brokerage unit of Bank of America Corp. auctioned 3.79 billion shares in Corpbanca, the country’s sixth- largest lender by assets, at 7.1 pesos each.

Lan Airlines SA (LAN) increased 0.7 percent to 12,168 pesos. Latin America’s largest airline by market value started operations of its unit Lan Colombia, adding 23 new flight destinations, it said in an e-mailed press release. Also, an attorney at Brazil’s antitrust regulator Cade recommended that the airline’s takeover of Tam SA be approved without restrictions.

Paz Corp SA (PAZ) fell 4.2 percent to 245.36 pesos, its third day of losses. Chile’s third-largest listed home builder may be dropped from the Ipsa benchmark index in 2012, according to a statement sent Dec. 2 from the Santiago stock exchange.

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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